Suggested Ways in Negotiating Your Credit Card Debt
The main concern now is how to end your looming problem of credit card debt to avoid bankruptcy.
If you want to seriously take advantage of your wealth and investment, you have to consider destroying your debts.
If you are so desperate to take an action to save whatever you have, then, this technique will help your way out.
It is called credit card debt negotiation.
This is a sure way to prevent further damages for both parties involve (bank and you).
Suggested Ways on how to do credit card debt negotiation? 1.
Like the usual way, ask for lower interest rate.
The request is justifiable when you are actually paying on time.
If you are not, then it is worth a try to talk to them than rather declaring bankruptcy.
They would rather want to get the loan capital than not getting it all.
2.
Make a lump-sum payment to the bank of about 20-30% of the total money you loaned.
Why this will work? It is precisely because credit cards are unsecured accounts.
It means you don't need collaterals to acquire one.
You just have to pay for it.
So, the bank will definitely grab the chance for you to at least pay an amount of money rather than running and hiding away from them or declaring bankruptcy.
You have to carefully explain to them that you are doing the best that you could to pay them at least the minimum money enough to pay the freezing interest cost.
This is actually a win-win scenario because the bank does not have to risk of closing the account thus not getting money at all and it is also an advantage for you to reach a debt settlement agreement.
You have to understand that endings are not always neat and clean.
You may have successfully reached an agreement but the cost of this settlement is negatively high in terms of your credit scores.
It is likely to happen that the bank won't allow you to loan again (unless new terms are being discussed).
However, it is still a priority to settle your debts and enjoy a credit-debt-free life!
If you want to seriously take advantage of your wealth and investment, you have to consider destroying your debts.
If you are so desperate to take an action to save whatever you have, then, this technique will help your way out.
It is called credit card debt negotiation.
This is a sure way to prevent further damages for both parties involve (bank and you).
Suggested Ways on how to do credit card debt negotiation? 1.
Like the usual way, ask for lower interest rate.
The request is justifiable when you are actually paying on time.
If you are not, then it is worth a try to talk to them than rather declaring bankruptcy.
They would rather want to get the loan capital than not getting it all.
2.
Make a lump-sum payment to the bank of about 20-30% of the total money you loaned.
Why this will work? It is precisely because credit cards are unsecured accounts.
It means you don't need collaterals to acquire one.
You just have to pay for it.
So, the bank will definitely grab the chance for you to at least pay an amount of money rather than running and hiding away from them or declaring bankruptcy.
You have to carefully explain to them that you are doing the best that you could to pay them at least the minimum money enough to pay the freezing interest cost.
This is actually a win-win scenario because the bank does not have to risk of closing the account thus not getting money at all and it is also an advantage for you to reach a debt settlement agreement.
You have to understand that endings are not always neat and clean.
You may have successfully reached an agreement but the cost of this settlement is negatively high in terms of your credit scores.
It is likely to happen that the bank won't allow you to loan again (unless new terms are being discussed).
However, it is still a priority to settle your debts and enjoy a credit-debt-free life!